
Mark M. answered 10/25/18
Mathematics Teacher - NCLB Highly Qualified
10370 = p(1 + 0.041/289)289(10)
10370 = p(1.00014)2890
10370 = p(57.00679)
181.91 = p
Can you calculate the interest and answer?
Sasha R.
asked 10/25/18Suppose you borrowed a certain amount of money 10 years ago at an annual interest rate of 4.1% with 239 compounding intervals per year. If you returned $10370 today, how much interest did you pay?
Round your answer to the nearest dollar.
Mark M. answered 10/25/18
Mathematics Teacher - NCLB Highly Qualified
10370 = p(1 + 0.041/289)289(10)
10370 = p(1.00014)2890
10370 = p(57.00679)
181.91 = p
Can you calculate the interest and answer?
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Sasha R.
How would you calculate that interest, and what does the number you solved for mean?10/26/18